Louisiana Revised Statutes 39:100.26 – Louisiana Superdome Fund; purpose
Terms Used In Louisiana Revised Statutes 39:100.26
- Docket: A log containing brief entries of court proceedings.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
A. There is hereby created in the state treasury, as a special fund, the “Louisiana Superdome Fund”, hereinafter referred to in this Section as the “fund”.
B. Notwithstanding any provision of law to the contrary, the proceeds received by the state from the final disposition of the following pending matters: Jazz Casino Company, LLC v. Secretary, Department of Revenue, State of Louisiana, 19th JDC, Docket No. 597,371; Jazz Casino Company, LLC v. Secretary, Department of Revenue, State of Louisiana, 19th JDC, Docket 622,075; Jazz Casino Company, LLC v. Secretary, Department of Revenue, State of Louisiana, BTA Docket 9562D; JCC Fulton Development, LLC v. Secretary, Department of Revenue, State of Louisiana, 19th JDC, Docket No. 597,372; JCC Fulton Development, LLC v. Secretary, Department of Revenue, State of Louisiana, 19th JDC, Docket No. 622,076; JCC Fulton Development, LLC v. Secretary, Department of Revenue, State of Louisiana, BTA Docket No. 9562D; and Secretary, Department of Revenue, State of Louisiana v. Jazz Casino Company, LLC and JCC Fulton Development, LLC, 19th JDC, Docket No. 670,597 (hereinafter the “Jazz Casino Litigation”), shall be deposited into the fund. No proceeds shall be deposited into the fund resulting from the Jazz Casino Litigation that are attributable to outstanding debt secured by and payable from such proceeds, court costs, or attorney fees.
C. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to the fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.
D. Monies in the fund may be used to partially defray the cost of upgrades to certain state facilities or for operational costs by the Louisiana Stadium and Exposition District.
Acts 2021, No. 114, §8, eff. June 7, 2021; Acts 2021, No. 448, §1, eff. June 30, 2021.